With the Fall in Crude Oil Prices, Saudi Arabia Is Turning to Debt to Continue Its Major Projects.

With a barrel around 60 dollars, the kingdom, which depends on oil for its tax revenues, will increase its debt from 29 per cent of GDP in 2023 to 45 per cent in 2028, according to the S&P rating agency. And the deficit could grow in 2025 to more than 6 per cent.